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Oman LNG signs 9-year gas supply deal with BP

25 Nov 2023 By OUR CORRESPONDENT

Muscat – Oman LNG recently announced the signing of a sale and purchase agreement (SPA) to deliver a total of 1mn metric tonnes per annum (MTPA) of LNG to global energy giant BP.

The agreement strengthens the robust relationship between Oman LNG and BP, with which Oman LNG has previously signed sale and purchase agreements to supply reliable energy from the sultanate.

Spanning over nine years, the agreement between Oman LNG and BP is free-on-board (FOB) and starts in 2026, Oman LNG said in a statement to Oman News Agency.

Hamed al Naamany, CEO of Oman LNG said, “The sale and purchase agreement with BP unlocks new opportunities to leverage Oman’s presence in the global energy trade. The expected revenues will not only support the national economy but also support other the energy transition, pragmatically.”

Oman LNG noted that such agreements sustain Oman’s position as a reliable supplier of clean energy worldwide while contributing to the sultanate’s GDP. The company added that it is in a shape shifting position that sustains energy systems, fosters economic growth, and secures its position as a reliable energy supplier.

The agreement’s terms are strengthened by Oman LNG’s worldwide reputation as a reliable and trusted LNG supplier, where it intends that LNG contributes to global energy security and adds value to the local economy.

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